Cognition Therapeutics, Inc. announced the successful closing of its previously announced registered direct offering, generating gross proceeds of approximately $30 million. The offering involved the sale of 14,700,000 shares of common stock at a purchase price of $2.05 per share.
The offering was made to two new fundamental institutional investors, including a preeminent global investment firm. This capital infusion is designated to support the preparation for the company's Phase 3 programs of zervimesine in neurodegenerative disorders.
The successful completion of this financing provides Cognition Therapeutics with crucial capital, which management believes validates their efforts and the positive data generated to date across three major age-related degenerative disorders. These funds will be instrumental in advancing zervimesine towards potential commercialization.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.